Re: I can help, I manage a car dealership.

OP---I am looking to lease a 2013 Jeep Grand Cherokee Laredo. Sticker price is $39,510. I am looking to lease so I don't have to have such a high monthly payment and not as much out of pocket first to license. Question would be, will the dealer come down any in price for the lease or do I have any negotiating room on the sticker price while still trying to get best deal with monthly and least amount down as I can? or if I was to just buy would it be reasonable to try to get the price down to $35,000?

Re: I can help, I manage a car dealership.

@UpNComing - considering buying a new car, specifically the 2013 Chevy Malibu LS, sticker price according to the website is $23,425.

IF I do this, I will be financing through my CU which I have my current vehicle financed through. Current car is 2011 Honda Accord, owe $13k, valued at approx $15.5 so I should at least get a little bit to put towards bringing the finance price down.

Question: since this is a brand new car, do I have any wiggle room for negotiation?

Re: I can help, I manage a car dealership.

I really need a new car but I dread the financing. I have a chargeoff on my record from Discover from 2/09. They won't negotiate a payment despite my best efforts. I started rebuilding my credit in 6/11 and now I have two credit cards, both with low limits ($1000 each), 0 balances, and perfect payment records. I have two store cards, both which are used and paid off monthly. I had a car loan for $25k that I paid off in 2008, no lates. I had a lease previous to that, paid off with no lates in 2003. I make $110,000 per year and have been with the same company since 2007. My rent (which I share with my husband) is $2000/mo, again, never late. No collections or public records other than the chargeoff. I have 11k in savings, 5k in checking. My Experian FICO is 648 and my TU is 630.

I want to buy a GMC Terrain for about 30k with taxes, tag and title, and I have $3k to put down. Can I get a loan? I'm really worried, but I do get mail from Cap One about once a month saying I'm pre-approved for a $30k loan if I bring in picture ID with my address and a paystub.

Re: I can help, I manage a car dealership.

Thank you for this great source of information through the replies. It has been very beneficial in understandinpurchase loan and purchase on reading the responses.

I had a question regarding application for an auto loan while on work visa In USA. My husband and I are both on H1-B work visa working for different firms and are looking at purchasing a new car via a joint loan(hoping to get a lower interest rate). We also plan to make a down payment upto 30-35% of the total price of the new vehicle.

Since most loans cannot be offered for a period beyond the visa expiry date, I wanted to know how would the loan period be calculated in our case where I have my visa which is valid for the next one year (with a possible 3 year extension after expiry) while my husband has his visa valid for the next 3 years? what would be the maximum period by when the loan needs to be paid off - will it be in the next 3 years or will it be a 1 year period?

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